Listed below are selected transactions of Schultz Department Store for the current year ending December 31.

1. On December 5, the store received $500 from the Selig Players as a deposit to be returned after certain furniture

to be used in a stage production was returned on January 15.

2. During December, cash sales totalled $797,780, which includes 13% HST.

3. On December 10, the store purchased for cash three delivery trucks for a total of $125,995. The purchase price includes 13% HST.

4. The store determined it will cost $100,000 to restore the area (considered a land improvement) surrounding one of its store parking lots, when the store is closed in two years. Schultz estimates the present value of the obligation at December 31 is $84,000.

Instructions:Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting journal entries relative to the transactions that would be required at December 31. Assume that adjusting entries are recorded only once a year on December 31.